The US Treasury implemented new battery sourcing rules in December, to reduce dependence on Chinese suppliers in the electric vehicle supply chain. As a result of these rules, many electric vehicles, including models from Nissan, Tesla (Cybertruck All-Wheel Drive, Model 3 Rear Wheel Drive) and Chevrolet (Blazer EV), lost eligibility for tax credits of up […]
In a pivotal year for Latin American soy production, Argentina and Brazil are set to drive significant growth in soybean crushing volumes in 2024. This surge, propelled by Argentina’s crop recovery and Brazil’s higher biodiesel mandate, is poised to reshape global soybean dynamics, as per S&P Global. India, a major consumer of vegetable oils, is […]
Chinese tech giant Huawei Technologies is reportedly expected to exceed its revenue by USD 98.5 billion for 2023, indicating a 9 per cent YoY revenue growth from last year, according to a media report on Friday. The forecast further suggested Huawei’s rebounding after US sanctions in 2019 that damaged some of its business lines. The […]
In 2023, the fashion industry witnessed a transformative shift towards sustainable practices, reflecting a changing consumer ethos. The demand for eco-friendly clothing saw a remarkable 25 per cent increase, indicating a growing consciousness among consumers. Sustainable fashion became more than a trend; it became a cornerstone of consumer preferences. Another significant trend in 2023 was […]
Taiwanese electronics manufacturer Foxconn has invested USD 55.29 million in Bengaluru-based Foxconn Precision Engineering, a fresh capital made through the company’s Singapore-based subsidiary Foxconn Singapore. Foxconn Singapore has acquired 46,08,76,736 shares in total at Rs 10 each. The company’s Bengaluru unit was incorporated six months ago to set up a Rs 8,800 crore supplementary plant […]
The Patiala House Court on Tuesday extended the Enforcement Directorate custody of three Vivo-India executives by two days. The executives are being investigated for money laundering in connection with the Chinese smartphone maker and others. The three accused, including the interim CEO, were freshly arrested by the Enforcement Directorate (ED) in an ongoing investigation related […]
China has pledged to provide consular protection and assistance to two Chinese employees of smartphone maker Vivo who were recently arrested by Indian authorities. The foreign ministry spokesperson, Mao Ning, emphasised China’s firm support for Chinese companies in safeguarding their lawful rights and interests. He urged India not to discriminate against Chinese companies and expressed […]
The global smart personal audio market experienced a 3 per cent year-on-year (YoY) decline, amounting to 110 million units. Developed regions grappled with challenges, while emerging regions showcased resilient growth, revealing a shifting landscape in the industry. True Wireless Stereo (TWS) devices took a commanding lead, constituting an impressive 73 per cent of total shipments. […]
In early Asian trade on Friday, oil prices surged, poised to achieve their first weekly gain in two months, fueled by a positive outlook on oil demand from the International Energy Agency (IEA) for the coming year and a decline in the value of the dollar. According to Reuters, Brent futures experienced a 9-cent increase, […]
Indian government on Tuesday told the World Trade Organization (WTO) that it has no plans to extend the ban beyond the mentioned products in the October notification pertaining to IT hardware products such as personal computers, Tablets and laptops. The government said that industry consultations were undertaken before issuing the notification on 3 August and […]
